Enterprises

TTC Group's Dang Huynh Uc My: Art of management

Ms. Dang Huynh Uc My, Vice Chairlady of Thanh Thanh Cong Group (TTC Group), has successfully held the role as successor in the family business since a very young age.

by Tien Minh

Operations management has a pivotal role in a business. A growing number of women are now holding key positions within operations management in both large and small businesses and promoting the efficiency of business operations. One explanation for their greater presence is that women more readily take responsibility and perform tasks flexibly, which are considered strengths in a good manager.

Enthusiasm to succeed

Operations management is viewed as a combination of art and science that requires a skillful mixture of specialized knowledge, skills, experience in the management process, and an understanding of psychology, with a view to achieving common objectives without affecting individuals in the organization.

The Dang family is well known within Vietnam’s financial circles thanks to their unique formula in operations and management. Taking over senior executive positions at Thanh Thanh Cong Group (TTC Group), which derived from an ethanol production facility in 1979, Ms. Dang Huynh Uc My, the only daughter of the Dang family, has soundly performed her role as successor in the business.

Her bravery and willpower were quickly reflected through her determination to study in New Zealand, one of the leading countries in finance and banking, despite her family’s opposition.

Upon returning home she helped with the family business with all the enthusiasm and courage of youth. Holding the positions of Chairwoman of the Board at the Sugar Joint Stock Company Thanh Thanh Cong Tay Ninh and the Bien Hoa Sugar Joint Stock Company, Ms. Uc My gradually revealed her operating capacity and strategic vision and convinced her family to move from distributing to becoming more engaged in the sugar production chain with a series of mergers, restructuring, and ownership increases in reputable sugar companies to pave the way for expanding its business. From seven member companies in 2011 the TTC Group now has 21 member companies operating in five fields: real estate, energy, sugar, tourism, and education, with charter capital of VND11 trillion ($494.16 million)), total assets of VND30 trillion ($1.347 billion) and nearly 10,000 employees. The goal of the TTC Group is to become one of five most sustainable and efficient investment groups in Vietnam.

Ms. Uc My not only concentrates on the principle of setting standards and professional monitoring operating systems to define the vision, mission, operational goals and strategic plans for particular phases but also strives to build a professional working environment to develop the ability of each employee and promote the role of middle managers. “Value is created through the entire journey, not just at the destination or result,” she said.

She recognizes that the greater the scale and scope of an enterprise the greater the requirements of managers, demanding they improve individually. The efficiency of operations management must also grow from a sustainable cultural foundation of the business, and the capability of the managerin association with the harmonization of individuals that have diverse knowledge and abilities to maximize their potential and limit their weaknesses.

Operations management must be close to sustainable development goals

A competent manager is capable of creating added value for society, customers, employees and investors. “Society is developing and the value that enterprises contribute to the community will determine their survival and sustainability,” Ms. Uc My once said. This is also the motto behind her building up her impressive achievements.